Those in southeast Georgia who anxiously wondered what would come from “Project X,” a year-old rumored development from Gulfstream Aerospace, can now rest easier. Meanwhile, economic and political leaders will probably consider popping corks on bottles of champagne.

During an announcement in Savannah this morning that included Georgia Gov. Sonny Perdue, Gulfstream said it will add 1,000 jobs in production and engineering as it expands its offices and facilities in the area.

A report on the Savannah Morning News web site said today’s announcement is a $500 million, seven-year deal that will increase the Gulfstream employee roster by 15 percent.

The news provides another bubble of warmth within a cool economy that has seen several other aircraft manufacturers announce job cuts in recent months and comes with cheers from local leaders, who say the expansion by the area's largest employer with spur additional economic activity in the region.

Ultra-large jets and orders of new aircraft increased in the latter part of 2010, while Gulfstream reported a growth in revenue. The company was one of several aircraft makers to begin rolling out larger, faster business jets during the recent trend. During testing, its ultra long-range G650 recently earned the title of fastest civilian aircraft.